GMG Global promotes Li Xuetao to executive director and CEO

He will replace Yao Xingliang who will be re-assigned within the Sinochem Group.

GMG Global announced the appointment of Li Xuetao as executive director and chief executive officer effective 1 March 2015.

Mr Li, 45, will be responsible for the overall business operations and development of the group. He will also become a member of the Strategy and Investment Committee, according to a GMG Global report.

He is vice president and general manager of trading and distribution business division of Sinochem International since January 2013. From August 2011 to January 2013 he was vice president of Sinochem International and chairman of Committee of Risk Management and the company's general counsel. Before this, he was executive director, COO and vice president of GMG Global from September 2008 to July 2011.